Accounts (14 Viewers)

[Deleted member 5849]

Good point - I hadn't thought about the period covered. It's been ages since I had to submit accounts, isn't it something like nine months after the close of the financial year - in which case we're talking Jun 13 to May 14 (ish) off the top of my head. The Northampton period won't tell us much I'd guess...

FWIW what would possibly be of more worth is any note about the owners committing to fund losses for the Northampton period, as used by the Football League to justify moving to Noton.

I suspect there'll be some justifcation made about how the move back to the Ricoh meant that, retrospectively, wasn't needed

 

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[ccfcway]

Coventry City would like to confirm that it has successfully filed its accounts with Companies House inside the required deadline.

Wahey !!!, finally we have been successful at something !

 

[steveecov]

Wahey !!!, finally we have been successful at something !

Ah the Tony Mowbray accent just came thru me screen like

 

[oldfiver]

It doesn't seem like great business practice leaving it as late as possible before filing, but it's hardly unique as I recall - it could well be the usual last-minutery that SISU seem to enjoy, and they are actually at Companies House now.

Having said that, I also wouldn't be surprised if Otium are late filing; I can't see that they'll be worried about a transfer embargo and everything about SISU's business practices seems designed to be as obscure and frustrating as possible.

When they are filed, my prediction is the following:

Low turnover, reduction in player's salaries, and increase in debt to another part of the SISU empire. I'll be amazed if they really show that we're cash-flow neutral. There will also be something vague about progress on a new ground.

I am afraid it is a bit like deadline day for tax returns the majority get filed on the last day.

One point the doubters have overlooked is the going concern aspect. The Auditors need to be satisfied the company will have a probabilty of being in business at least 12 months after signing off. So the later they are signed off means the 12 months moves later

 

[TonyD]

I am afraid it is a bit like deadline day for tax returns the majority get filed on the last day.

One point the doubters have overlooked is the going concern aspect. The Auditors need to be satisfied the company will have a probabilty of being in business at least 12 months after signing off. So the later they are signed off means the 12 months moves later

Since when does about 5% of tax returns filed on the last day count as a majority? Those that consistently file late should face higher penalties and sanctions against those who are responsible.

 

[jas365]

I haven't turned it on anybody.

People make a big deal about them not being filed or the risk of them not, they put out an announcement to say they are filed, people make a big deal about them making an announcement about it to clear it up.

I think the general point being made was that other clubs (and indeed all companies) just file them without the need to tell everyone they've done it, as though it's some kind of achievement.

It's not like the date has just crept up on them, they know full well that the deadline is 28th Feb, it's almost like they get a kick out of playing brinkmanship. Hopefully they get filed this week to stop us being under yet another sodding embargo.

 

[skybluebeduff]

Are we supposed to give SISU an extra round of applause for doing something they need to do by law? ffs

 

[skybluetony176]

Since when does about 5% of tax returns filed on the last day count as a majority? Those that consistently file late should face higher penalties and sanctions against those who are responsible.

It's all standard business practice

 

[Moff]

It's probably AL's fault err I mean ex managers fault (insert name of your choice here), err I mean ex board members fault (insert name of your choice here) err I mean ACL's fault, err I mean CCC's fault, err I mean Higgs fault, err I mean the fans fault. Basically blame anybody but our owners (insert name of your choice here) and then use the following get out clause "I know SISU carry some of the blame but..."

Just thought I'd get that clarified straight away so we don't get 12pages of drivel.

PS the judge got it wrong.

Playing it for likes again Tony

 

[oldskyblue58]

The accounts are not yet listed as received. That doesn't mean they haven't been because it might be they are being processed. Because the financial statements require an audit and will most likely contain some items that do not fit the standard CH template then a full copy with original signatures will need to have been submitted. Those financial statements will be checked, converted into a PDF or similar and made available online. There is often a delay but not always (I would guess it depends on workload) in that happening that will and does create on message on the summary page of "not yet available to download" or words to that effect. What that tells us is that the documents have been received even if they can not yet be accessed. After that it is about a day before you can download.

There is no indication that the financial statements have been submitted as yet

Perhaps Simon or Les Reid could ask the club if they have been filed. SW or TF must know as they have to sign the accounts before the auditors do.

There could be reasons why they are not filed (none good) but I would suggest give it a day or two before we jump to conclusions on that front.

Results of late filing - fine from Companies House, possible legal action against individual directors of each company, & possible transfer embargo or other penalty from the FL (not ideal when trying to appoint a new manager as it would apply to player loans as well)

 

[skybluetony176]

The accounts are not yet listed as received. That doesn't mean they haven't been because it might be they are being processed. Because the financial statements require an audit and will most likely contain some items that do not fit the standard CH template then a full copy with original signatures will need to have been submitted. Those financial statements will be checked, converted into a PDF or similar and made available online. There is often a delay but not always (I would guess it depends on workload) in that happening that will and does create on message on the summary page of "not yet available to download" or words to that effect. What that tells us is that the documents have been received even if they can not yet be accessed. After that it is about a day before you can download.

There is no indication that the financial statements have been submitted as yet

Perhaps Simon or Les Reid could ask the club if they have been filed. SW or TF must know as they have to sign the accounts before the auditors do.

There could be reasons why they are not filed (none good) but I would suggest give it a day or two before we jump to conclusions on that front.

Results of late filing - fine from Companies House, possible legal action against individual directors of each company, & possible transfer embargo or other penalty from the FL (not ideal when trying to appoint a new manager as it would apply to player loans as well)

Thanks for some clarification OSB. Your last comment being mine and I would imagine everyone's first concern. I have my fingers crossed that they're in.

 

[torchomatic]

You know Tony, i dont think you have.

I have my fingers crossed that they're in.

 

[skybluetony176]

You know Tony, i dont think you have.

Like you are on most things you say, you'd be wrong.

Why would any fan want a transfer embargo at anytime let alone when a new manager is coming in and were in a relegation dog fight?

You don't have to be a twat everyday of your life, take a day off once in a while.

 

[Sky Blue Kid]

Like you are on most things you say, you'd be wrong. Why would any fan want a transfer embargo at anytime let alone when a new manager is coming in and were in a relegation dog fight? You don't have to be a twat everyday of your life, take a day off once in a while.

It's a superiority complex thing Tony...Don't worry about it mate

 

[SimonGilbert]

Perhaps Simon could ask the club if they have been filed. SW or TF must know as they have to sign the accounts before the auditors do.

Tim told me on Thursday that they weren't expecting them to be late.

I'm back in the office this afternoon. Plan to chase then.

 

[Deleted member 5849]

Tim told me on Thursday that they weren't expecting them to be late.

Don't start referring to him by anything other than Fisher, else they'll think you've been bought off on here!

 

[torchomatic]

Tell you what, when you stop,I will.

You don't have to be a twat everyday of your life, take a day off once in a while.

 

[duffer]

Thanks for some clarification OSB. Your last comment being mine and I would imagine everyone's first concern. I have my fingers crossed that they're in.

I'll be honest, getting more loan players in isn't really a big concern for me. Are we already over the limit for the number that we can field.

The transfer embargo becomes a worry when we hit closed season, if it's in place then I'd say. At the precise moment I think the new manager will have to do the best with what we've already got, regardless.

 

[torchomatic]

So, hopefully they have been filed.

 

[torchomatic]

Tell him not to put any "fanfare" on the website or anything. It upsets Tony.

Tim told me on Thursday that they weren't expecting them to be late.

I'm back in the office this afternoon. Plan to chase then.

 

[skybluetony176]

Tell him not to put any "fanfare" on the website or anything. It upsets Tony.

You're really on form today.

 

[ajsccfc]

Come on gang, no handbags on New Manager Day.

 

[Woodster]

http://www.coventrycity-mad.co.uk/news/tmnw/byng_waiting_on_otium_accounts_855784/index.shtml?

"Michael Byng has said that he is waiting for the accounts for the Otium Entertainment Group as part of his take over bid.
Mr Byng has tweeeted that he is waiting for Otium accounts which were received late by Companies House on Friday afternoon and are waiting to be reviewed before being made publically available."

 

[Gosford Green]

As much as I hate SISU I would like nothing better than if they acted like decent and diligent owners and took away any need to hate.

Investment in the team NOT litigation, dropping the stadium in the Coventry area bullshit and filing accounts would be a start.

 

[torchomatic]

Apologies. Off today. I'm sure there's a "Homes Under the Hammer" I can watch.

Tell him not to put any "fanfare" on the website or anything. It upsets Tony.

 

[stupot07]

Don't start referring to him by anything other than Fisher, else they'll think you've been bought off on here!

Don't you mean Fishface?


Sent from my iPhone using Tapatalk - so please excuse any spelling or grammar errors

 

[Deleted member 5849]

http://www.coventrycity-mad.co.uk/news/tmnw/byng_waiting_on_otium_accounts_855784/index.shtml?

"Michael Byng has said that he is waiting for the accounts for the Otium Entertainment Group as part of his take over bid.
Mr Byng has tweeeted that he is waiting for Otium accounts which were received late by Companies House on Friday afternoon and are waiting to be reviewed before being made publically available."

He worries me immensely.

 

[Ashdown]

We must be a rare football forum that waits with baited breath about the filing of a set of club accounts ? Lets just hope they show some positivity !

 

[Deleted member 5849]

We must be a rare football forum that waits with baited breath about the filing of a set of club accounts ? Lets just hope they show some positivity !

This lot certainly won't!

They'll be Northampton season, so they'll be absolute carnage.

 

[oldskyblue58]

He worries me immensely.

me too.

If he is making a bid why does he need to wait for accounts to be filed at Companies House? Surely he contacts SISU direct and gets the figures for 2014 but more importantly the current figures if he is serious

 

[John_Silletts_Nose]

Tell him not to put any "fanfare" on the website or anything. It upsets Tony.

There should be a fanfare in the style of Ryanair when their flight lands on time, followed by a comment about being the best on time football club in February 2015.

 

[MusicDating]

http://www.coventrycity-mad.co.uk/news/tmnw/byng_waiting_on_otium_accounts_855784/index.shtml?

"Michael Byng has said that he is waiting for the accounts for the Otium Entertainment Group as part of his take over bid.
Mr Byng has tweeeted that he is waiting for Otium accounts which were received late by Companies House on Friday afternoon and are waiting to be reviewed before being made publically available."

Prediction of future news headlines -

"Michael Byng has said that he is waiting for due diligence to be completed on the Otium Entertainment Group accounts as part of his take over bid."

"Michael Byng has said that he is waiting for answers to questions posed to Otium Entertainment Group about the accounts as part of his take over bid."

"Michael Byng has said that his business partners have pulled out of a potential take over bid after not receiving satisfactory answers to questions posed to Otium Entertainment Group. An Otium spokesperson said 'Whooooooo?...'"

 

[torchomatic]

Not me. He's not going to do anything.

He worries me immensely.

 

[Deleted member 5849]

Not me. He's not going to do anything.

He adds a layer of distraction though and if (yeah yeah, I know!) someone actually, you know... sane is hanging around, he could risk putting them off... or putting us off, for that matter, as we assume everyone interested is a nutter!

As OSB says, why would these figures be the ones he'd want anyway? And if he is genuinely capable of launching a bid, he might need to start showing actions speak louder than words.

 

[Ashdown]

He adds a layer of distraction though and if (yeah yeah, I know!) someone actually, you know... sane is hanging around, he could risk putting them off... or putting us off, for that matter, as we assume everyone interested is a nutter!

As OSB says, why would these figures be the ones he'd want anyway? And if he is genuinely capable of launching a bid, he might need to start showing actions speak louder than words.

I think the key word there was' nutter' !